Name: GCC Cloud Computing Market and Analysis Report – Opportunities and Forecast 2023-2030
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GCC Cloud Computing Market and Analysis Report – Opportunities and Forecast 2023-2030

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GCC Cloud Computing Market is growing at a compound annual growth rate (CAGR) of 19.5% during the forecast period (2023-2030).

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Major GCC Cloud Computing Market Drivers

The GCC cloud computing market growth is significantly driven by rapid industrialization, a rise in the need for flexibility and scalability, and an increasing importance of confidentiality and security. The rising requirement for flexibility and scalability in IT infrastructure is a propelling force in the cloud computing market. Organizations in different industries are tapping into cloud solutions to effortlessly adjust their computing resources to address the demand, optimizing costs and increasing operational effectiveness. The scalability delivered by cloud computing allows businesses to swiftly adapt to moving market conditions, confirming effective responsiveness to customer requirements. In the GCC, the cloud computing market is driven by the growing implementation of digital transformation initiatives in different industries. Also, identifying the significance of advancing IT infrastructure, organizations are considerably shifting to cloud services to foster agility, cost-effectiveness, and scalability.

Data security and privacy are the foremost concerns for any organization, highlighting the crucial requirement for digital protection in the storage, usage, and transmission of data. Surveys discover that nearly 60% of business-sensitive data or information stored on hard drives is inadequately secured. Vendors offer a variety of significant security services, including access control, cloud integration, auditing, monitoring, communication security, data encryption, authorization management, and business continuity services. In addition, Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform deliver an impressive 99.9% uptime, improving organizations from the responsibilities of maintaining recovery facilities and backup infrastructure. Also, GCC companies are leading by initiating or expanding spending in cloud-based infrastructure. They are incorporating collaborative tools like lab simulators, document sharing, communication methods, and videoconferencing personalized to precise channels. In addition, there is a significant aim for technological innovations confirming robust information security in these dynamic technological insights.

Furthermore, as the volume of data continues to grow exponentially, doubling every two years, the demand for information processing, storage, analysis tools, and technologies has become important for digital advancements. Governments and organizations have increasingly adopted cloud computing as a foremost driver for operational effectiveness, looking for a balance between security and agility in their digital pursuits. The GCC member states have crafted national vision and modernization strategies such as the Qatar National Vision 2030, and UAE Digital Government Strategy. These initiatives prioritize digital transformation as an important enabling for economic sustainability, diversification, and an enhanced quality of life. These visionary strategies serve as a roadmap for all-inclusive digital initiatives, resulting in the increased adoption of technologies including AI, cloud computing, IoT, and many more across a diverse range of sectors, including finance, and healthcare in recent years.

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The increasing adoption of cloud computing in different industries is propelling demand in the country. The Saudi Arabian Monetary Authority joined hands with domestic bands and stakeholders to adopt an integrated payment strategy, to increase electronic transactions to approximately 30% of overall transactions by the end of 2021. Cloud service providers are expanding their services across the Kingdom of Saudi Arabia. During 2020, Saudi Aramco Development Co., a subsidiary of Aramco, announced a collaboration with Google Cloud to provide cloud services to clients across KSA. This partnership is projected to urge industries across the region to adopt cloud services.

The expansion of the cloud computing market is driven by the widespread adoption of cloud-based systems among different small and medium-sized organizations. Also, governments in different developing nations are investing in cloud computing delivery models, adopting its capability to streamline technological functions and improve government productivity. For instance, in 2023, the UAE’s Ministry of Economy joined hands with Amazon Web Services Inc., to announce an introduction of the AWS Connected Community initiative. This initiative is concentrated on supporting the digitization functioning of small and medium enterprises (SMEs). The AWS Connected Community initiative is introduced to aid SMEs expand and thrive in both international and local markets. It accomplishes this through virtual workshops and sessions that improve digital economy and technology capabilities including cloud computing, digital media, Blockchain, IoT, smart applications, digital databases, storage, and robots.

Top Market Players

Various notable players operating in the market include Microsoft, AWS, IBM, Google, Alibaba Cloud, Oracle, SAP, Salesforce, Etisalat, eHosting DataFort, Injazat Data Systems, STC Cloud among others.

Key Developments

- In 2023, Zoho Corporation announced an investment of USD 30 Million to help SMEs improve technology effectively in Saudi Arabia.
- In 2023, Oracle introduced new cloud services across Riyadh, Saudi Arabia to reinforce its position by functioning 6 countries in the Middle East.

Segments covered in the Report:

The GCC Cloud Computing Market has been segmented on the basis of Deployment Model, Service Model, Industry Vertical and Organisation Size. Based on the Service Model, the market is segmented into Infrastructure as a Service, Platform as a Service, Software as a Service. Based on the Deployment Model, the market is segmented into Private Cloud, Public Cloud, Hybrid Cloud. Based on the Organisation Size, the market is segmented into Small and Medium Enterprises, Large Enterprises. Based on the Industry Vertical, the market is segmented into Manufacturing, Healthcare and Life Sciences, IT & Telecom, Retail and Consumer Goods, Energy and Utilities, Media and Entertainment, BFSI, Government and Public Sector, Others.

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Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Service Model, By Deployment Model, By Organisation Size, By Industry Vertical
Regional Coverage	GCC
Companies Profiled	Microsoft, AWS, IBM, Google, Alibaba Cloud, Oracle, SAP, Salesforce, Etisalat, eHosting DataFort, Injazat Data Systems, STC Cloud., among others; a total of 9 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation